BigBand Networks, Cray, Ista Pharma, Zoltek

Advancers

Aon Corp.
AOC, +1.20%
reported an 8% increase in first-quarter net income as a reorganization and cost-cutting plan helped boost profitability. But revenue from the company's main insurance brokerage business was constrained by a tough U.K. market. See full story.

Assured Guaranty Ltd.
AGO, +0.21%
reported first-quarter net earnings of $39 million, or 57 cents a share, up 12% from a year earlier. The Bermuda insurance holding company's revenue rose to $85.4 million from $74.3 million.

Baldor Electric Co.
BEZ, -1.15%
reported first-quarter earnings of $20.9 million, or 50 cents a share, up 84% from the year-earlier period. Excluding items, the latest earnings came in at 52 cents. Revenue at the Fort Smith, Ark., maker of industrial electric motors and power transmission products more than doubled to $395.7 million.

BigBand Networks Inc.
BBND
shares fell after the Redwood City, Calif.-based provider of broadband multimedia infrastructure reported a first-quarter net loss of $977,000, or 5 cents a share, compared with a net loss of $1.06 million, or 9 cents a share, in the year-ago period. Excluding certain items, the company posted a first-quarter 2007 profit of 9 cents a share. rose 62% to $52.8 million from $32.6 million in the same quarter last year. Analysts polled by Thomson Financial were expecting, on average, a per-share profit of 3 cents. The company expects second-quarter earnings of 2 cents to 6 cent a share, or 6 cents to 11 cents a share excluding items, on revenue of $52 million to $56 million. BigBand also forecast 2007 earnings of 6 cents to 11 cents a share, or 30 cents to 35 cents a share excluding items, on revenue of $225 million to $230 million.

Blackbaud Inc.
BLKB, -1.08%
shares leapt after the Charleston, S.C.-based provider of software and services to nonprofit organizations reported first-quarter net earnings of $5.86 million, or 13 cents a share, up from $5.67 million, or 13 cents a share, in the year-ago period. Excluding certain items, the company earned 16 cents a share in the first quarter of 2007. Revenue rose to $55.3 million from $43.7 million. Analysts polled by Thomson Financial were expecting, on average, a per-share profit of 16 cents on revenue of $53.9 million. Blackbaud added that it does not expect the acquisition of the Target companies to be as dilutive as originally expected.

Crocs Inc.'s
CROX, -0.65%
first-quarter net income more than tripled to $24.9 million, or 61 cents a share. Revenue at the Niwot, Colo., footwear manufacturer and retailer also more than tripled, to $142 million.

Digital River
DRIV
shares rose after Standard & Poor's said it plans to add the company to the S&P MidCap 400 Index to replace OSI Restaurant Partners Inc. OSI
OSI, -0.61%
is being acquired by an OSI's founders, Bain Capital Partners LLC and Catterton Partners.

Nabors Industries
NBR, -0.48%
posted a profit of 92 cents a share, up from 79 cents in the year-earlier period. Sales came in at $1.3 billion, up from $1.18 billion.

Priceline.com
PCLN, +0.60%
agreed to settle a securities class action filed against it in 2000 by paying a total of $80 million. Priceline.com expects to record a first0quarter charge of about $55 million. Priceline.com also it now sees adjusted first-quarter earnings of 43 cents a share, up from a previous projection of 22 cents to 28 cents. The company sees a net loss of 44 cents a share in the quarter.

Reuters Group
RTRSY
(RTR) said that it received a preliminary takeover approach. The U.K. news company's shares rose 20% to a five-year high of 600 pence a share. Earlier, traders had said there was a rumor of a bid at 6 pounds a share. The announcement follows News Corp.'s
NWS, +1.64%
announcement Tuesday that it bid around $5 billion, or $60 a share, for Dow Jones.
DJ
the parent company of MarketWatch, the publisher of this report. See full story.

Schering-Plough Corp.
SGP, -0.06%
was upgraded to overweight from neutral at Prudential Equity Group, which said the drugmaker has shown it is willing to take aggressive steps on the deal front, including its plan to acquire Organon Biosciences.

Schering-Plough Corp.
SGP, -0.06%
was upgraded to overweight from neutral at Prudential Equity Group, which said the drugmaker has shown it is willing to take aggressive steps on the deal front, including its plan to acquire Organon Biosciences.

Scientific Games Corp.
SGMS, -1.25%
reported first-quarter earnings of $24.8 million, or 26 cents a share, up 11% from the year-earlier period. The New York supplier of technology-based products, systems, and services to gaming markets posted revenue of $242.3 million versus $208.1 million.

Weyerhaeuser Co.
WY, -0.18%
swung to a first-quarter profit after a gain on the merger of its fine-paper business with Domtar. The Federal Way, Wash., forest-products company on Friday posted net income of $3.22 a share, compared with a year-earlier net loss of $2.34. Excluding the gain and a charge of 20 cents a share for asset impairments and closure costs, the company earned 20 cents a share in the latest quarter.

WMS Industries Inc.
WMS, +0.23%
shares rallied after the Waukegan, Ill.-based maker of gambling machines said fiscal third-quarter earnings rose to $12.9 million, or 34 cents a share, from $9.2 million, or 26 cents a share, in the year-ago period. Revenue rose to $136.6 million from $110.7 million. Analysts polled by Thomson Financial were expecting, on average, a per-share profit of 34 cents on revenue of $139.4 million. The company forecast fourth-quarter revenue of $150 million to $157 million, and tightened its full-year revenue forecast to a range of $532 million to $539 million.

Yahoo Inc.
YHOO, +0.85%
shares rose on news that Microsoft Corp. is reportedly considering buying the Internet giant in what could be a $50 billion deal, sources told the New York Post. The paper said that Yahoo two months ago spurned an approach from Microsoft,
MSFT, +1.57%
which has now requested formal talks on a deal. The Wall Street Journal is also reporting the likelihood of a deal. A spokesman for Yahoo Inc. in London declined to comment. A message left with Microsoft's press office wasn't immediately returned. See full story.

Zoltek Cos.
ZOLT
shares rose after the St. Louis-based materials company reported a fiscal second-quarter net loss of $6,000, or breakeven a share, compared with a net loss of $27.7 million, or $1.31 a share, in the year-ago period. Operating income from continuing operations increased to $5.9 million from $3.1 million. Revenue rose 40% to $36.7 million from $26.2 million in the comparable period last year.

Decliners

Bebe Stores Inc.'s
BEBE, -0.83%
fiscal third-quarter earnings were flat with a year earlier at 14 cents a share. The Brisbane, Calif., women's-apparel retailer said sales for the quarter ended April 7 rose 16% to $154.4 million.

Cost Plus Inc.'s
CPWM
fiscal first-quarter earnings fell to 34 cents a share from 83 cents a year earlier. Revenue at the Oakland, Calif., home-furnishings retailer for the period ended Feb. 3 rose 8.1% to $396.7 million. The latest period included an extra week.

Cray Inc.
CRAY, +1.01%
shares tumbled after the Seattle-based supercomputer company reported a first-quarter net loss of $841,000, or 3 cents a share, compared with a net loss of $5.31 million, or 24 cents a share, in the year-ago period. Revenue slipped to $47.1 million from $48.5 million. Analysts polled by Thomson Financial were expecting, on average, a per-share loss of 2 cents on revenue of $48.5 million. Cray now expects the mid-point of its 2007 revenue range to be about $230 million.

Eastman Kodak's
EK
first-quarter loss narrowed to 53 cents a share from $1.04 a share a year earlier on cost-reduction efforts and lower restructuring charges. From continuing operations, the latest loss was 61 cents, while sales dropped 8% to $2.12 billion. Analysts polled by Thomson Financial had forecast a loss of 2 cents a share on revenue of $2.11 billion. See full story.

Hovnanian Enterprises Inc.
HOV, +5.49%
expects to report a second-quarter loss, prior to the effect of certain land-related charges, of 30 cents a share, wider than the company's prior estimate of a loss of 5 cents to 20 cents. After the charges, the company sees the loss at 45 cents to 50 cents a share.

ISTA Pharmaceuticals Inc.
ISTA, +0.68%
shares tumbled after the Irvine, Calif.-based company said it has received a not approvable letter from the Food and Drug Administration relating to its new drug application for T-Pred. ISTA said it plans to request a meeting with the FDA to come to agreement on the actions the company must undertake to receive marketing approval. T-Pred is being developed as a topical steroid to treat inflammatory ocular conditions.

QLogic Corp.,
QLGC, +0.12%
the Aliso Viejo, Calif., maker of storage network infrastructure components, reported fiscal fourth-quarter earnings of $18.4 million, or 12 cents a share, down 43% from the year-earlier period. Revenue in the period ended April 1 rose to $147.1 million from $130.5 million.

Starbucks
SBUX, +0.17%
fiscal second-quarter profit rose more than 18%, buoyed by the opening of hundreds of new stores, and the Seattle coffee-shop operator backed its forecast for the full year. See full story.

Vonage Holdings Corp.'s
VG, -2.15%
bid for a retrial in its patent dispute with Verizon Communications Inc.
VZ, +0.70%
was thrown out by a federal court. The Internet phone provider had sought to have the original jury verdict that it had violated three of Verizon's five patents overturned and a new trial ordered.

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